SQM Expands Global Lithium Footprint with Strategic Partnerships and Acquisitions

SQM, a major player in the lithium market, is making significant strides in expanding its lithium production capabilities beyond Chile under the leadership of Mark Fones Illanes, Vice President of Development and M&A. Fones, who joined SQM in 2003, has been instrumental in driving these international ventures.

In Sweden, SQM has partnered with Talga Group on a lithium project in the north. In China, the company has modernized a factory in Sichuan. In Australia, SQM is actively exploring several regions, including Pilbara, and has major stakes in Azure's Andover mine and Mount Holland in Western Australia.

Fones was pivotal in establishing SQM's presence in Australia, being the first and only executive to land in Perth in 2017 when the company decided to invest there. This move has since led to several key partnerships and acquisitions.

At the end of 2023, while the market focused on SQM’s acquisition of Azure in collaboration with Hancock Prospecting, the company expanded its influence in several junior mining companies. SQM acquired a 30% stake in Pirra Lithium, later increasing it to 40% with an additional AUD 3 million investment for exploration. It also allied with Novo to explore critical minerals in the Pilbara region and signed an agreement with Tambourah Metals for the Julimar North prospect.

Beyond Sweden, China, and Australia, SQM is continually evaluating projects globally, including in the UK and Canada. The company acknowledges that Canada offers promising lithium projects and is also considering opportunities in Argentina, where it previously had a four-year joint venture with Canada's LAC.